IPG's revenue soared 38% higher year over year, landing at $286 million. On the bottom line, earnings increased by 50% to $1.38 per diluted share. Analysts would have settled for earnings near $1.20 per share on something like $254 million in top-line sales.
The maker of high-power fiber lasers and optical amplifiers enjoyed a torrential order flow from China and Eastern Europe. Sales in the materials processing division jumped 33% to $264 million, but the so-called other applications segment's revenue surged 140% higher due to increasing interest in lasers for telecom equipment applications.
Looking ahead, IPG's earnings guidance for the second quarter stopped at $1.60 per share alongside a revenue target near $330 million. Both of these projections ran far ahead of Wall Stret's current views.
IPG shares are now trading at fresh all-time highs, including a 47% gain over the last six months. Investors did not interpret this report as a buy signal for fiber-optic stocks in general, as other companies in the space reported weaker results last night.